Fidelity Bank NIN TIN restriction will begin in 2026 as accounts without valid tax or identity numbers face transaction limits

Fidelity Bank Plc has announced that it will restrict transactions on bank accounts not linked to a Tax Identification Number or National Identity Number from January 1, 2026, citing new requirements under the Nigerian Tax Administration Act 2025.

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The bank disclosed the decision in a customer notification issued on Monday, stating that the law mandates all bank accounts to be linked to a valid tax ID, while customers without a tax ID must provide a National Identity Number to remain fully operational.

According to the notification, accounts that fail to meet the new compliance standards risk being restricted from conducting transactions once the regulation takes effect at the start of 2026.

Fidelity Bank Plc said the measure is intended to ensure full alignment with federal tax regulations and to safeguard customer access to banking services ahead of the enforcement deadline.

The announcement follows a broader federal government push to tighten tax compliance across Nigeria’s financial system, with banks required to verify that all taxable account holders are registered with the tax authorities.

Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, confirmed the regulatory shift in a recent interview shared on his verified X account, formerly known as Twitter.

Taiwo Oyedele said the enforcement is grounded in Section 4 of the Nigerian Tax Administration Act, which legally requires all taxable persons to register and obtain a Tax Identification Number.

A taxable person, he explained, includes anyone earning income through trade, business, or any form of economic activity, making it mandatory for banks to request tax IDs from eligible customers.

Mr Oyedele noted that the policy itself is not new, having first appeared in the 2020 Finance Act, but described the current framework as decisive, providing the legal clarity and authority needed for full enforcement.

He added that the Nigerian Tax Administration Act now delivers a robust foundation for consistent compliance across the banking sector, marking a pivotal step in strengthening revenue collection from 2026.

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The Fidelity Bank NIN TIN restriction places renewed urgency on customers to regularise their account details as the deadline approaches, reinforcing the government’s drive for a more transparent and accountable tax system.